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The reports, which cite unnamed sources, indicate employees at the store at 600 N. Michigan Ave. were told the shop will close on January 19. (Published Tuesday, Dec 31, 2013)

Updated at 6:40 PM CST on Tuesday, Dec 31, 2013

Outdoor apparel merchant Eddie Bauer will close its flagship store on Chicago's Magnificent Mile next month, according to published reports.

The reports, which cite unnamed sources, indicate employees at the store at 600 N. Michigan Ave.
were told the shop will close on January 19.

If the privately-held retailer does leave the space it's unlikely it'll be vacant for long. Experts on the market say new leases are often drawn up as quickly as lawyers can complete the paperwork.

"The Magnificent Mile is very dynamic," said John Chikow, CEO and president of the Greater North Michigan Avenue Association. "We have had closings over the last couple of years that have been replaced almost immediately by other iconic names."

He pointed to recent renovations at Zenga and Ferragamo, and the construction of the new Burberry store, as evidence of the area's appeal.

"The fact that it's so linear, that it's very compact. we had the president and CEO of [General Growth Properties Inc] talk about how his wife told all her friends in India, 'It's so easy to shop on Michigan Avenue. Everything is right there,'" said Chikow.

Eddie Bauer officials declined to comment on the reported closure but said it is continuing its commitment as a strong local partner at its 13 Chicago-area stores.